Condo
Revised Quote
Fulfillment
Misc
HQX Home Discovery
100
These are the 3 key endorsements that should always be offered for a condo.
What is..Loss Assessment, Personal Property Replacement, Water Backup
GL: Coverage Presentation
100
what is the suggested setting expectation script for PAA Quote Bridged to carrier
"I'm going to review some of the important details to make sure they are correct. I will review any unanswered questions, and the selected coverages. Then, if everything sounds good, we can get a policy set up for you today."
100
What are the hours for Fulfillment and what do you do if you have a customer that wants to bind on a Friday, Saturday or Sunday effective the next day?
M-F 8 am -8PM Do not send it to FF. GL is Mortgagee clause & Document Requests for Fulfillment Team
100
These are the 2 key endorsements that should always be reviewed for a tenant quote
Personal Property Replacement, Water Backup
GL: Coverage Presentation
100
What roof type is ok to still bind as an assumption?
Architectural Shingles
GL: HQX Home discovery
200
An ASI Condo Coverage A valued at 600K will need this.
What is ..
Underwriting review
GL: Coverage A: Dwelling
200
What is the next step for a revised quote after setting expectations and retrieve the quote
Ask customer to verify the following information:
- Name: Order of names & spelling (including first, last, middle initial/name, and suffix) on quote must match as it appears on the mortgage. Named insured must be on the deed.
See Name Correction if names need to be switched.
- Effective date
- Property address (Including house/apt #, street, city, state, and ZIP code). Confirm complete address.
200
When Fulfillment returns a task, and the agent gets ahold of the customer to complete the task, the agent will mark the task as complete in MPX360 and select this status
Completed-Resolved
GL: Hard & Soft Referral Tasks in MPX360
200
This is the standard minimum coverage amount available for contents on a renters policy
$10,000
GL: Coverage C: Personal Property / Personal Possessions
200
How is the roof settled? In The states of CO, IL, MD, OH, TX and WI, For Homesite, when the roof is over 10 years old,
- Settlement for roof surfacing on buildings covered under Converge A & B caused by windstorm or hail is the lowest of the following:
- Actual Cash Value
- Cost to replacement damaged roof surfacing at the percentage on Roof Surface Payment Schedule
- Limit of liability under the policy
- Necessary amount actually spent to repair or replace damaged roof surfacing
- Endorsement is mandatory when roof is 10 years or older.
- Roof Surface Settlement Endorsements is the GL
300
A Customer getting a Condo quote for their Townhouse has a detached shed to store holiday decoration. The shed would fall under this coverage.
What is...
Coverage A
GL: Coverage A: Dwelling
300
If Revised quote is Bridged, where do you start the process after you verified
Go to carrier directly and proceed
300
When a customer calls back to advise the loan # for a quote that was already sent to fulfillment, the customer should be transferred to this extension
799
GL: Mortgagee Clause & Document Requests for Fulfillment Team
300
What is the process for a revised quote over 91 Days?
Read FCRA script, Follow the new Quote Procedures for the customer. Do not revise any previous quotes that are 91+ days old.
300
Name 3 items that are considered large renovations and are not acceptable and 3 small renovations that are acceptable
Larger renovations are not acceptable. These are renovations that impact the structural integrity of this home. These may include but are not limited to:
- Parts of the home are missing (i.e., siding, roof, walls, and/or sub floors etc.)
- Home has been gutted exposing studs, flooring, electrical etc.
- Building additions attached to main home or other structures
- Additions of other structures (i.e., new garage, barn, outbuilding etc.)
Smaller Renovations that are aesthetic are considered acceptable. These may include but are not limited to:
- Painting
- Updating kitchen/bathroom (studs and floorboards are not exposed)
- Putting in new flooring or carpeting (sub floor(s) remain(s)
400
Jewelry that is stolen would be covered up to this limit without needing to be scheduled on an HO6 Homesite policy
$1000
GL: Coverage C: Personal Property / Personal Possessions
400
What do you do if the customer indicates a different property address on a revised quote
Create new HQX quote following New Quote Procedures
400
How do you document outcome notes for a Fulfillment case in HQX?
Quote Number:
Created Case in MPX 360
Mortgagee clause & Document request
400
When an HO4 customer keeps their belongings in storage temporarily, those items are protected up to this limit
10% of limit of liability for Coverage C OR $1,000, whichever is greater
GL: Coverage C: Personal Property / Personal Possessions
400
What is the process when assumptions are noted on a PAA initiated Revised quote?
- 1. Confirm noted assumptions listed in MPX 360 under Activity Log in HQX Notes.2. Use guidelines to determine if the new information on assumptions are eligible for the quoted carrier.3. Noted assumptions are eligible for carrier & can be addressed in carrier quoting platform:
- Do NOT edit HQX.
- Update information in the carrier quote platform.
- Complete a follow up note in HQX with updated information.
- 4. Updated assumptions are ineligible for quoted carrier, either in the carrier system or through use of guidelines:
- Edit the HQX quote.
- Follow PAA Initiated Quote Did Not Bridge to Carrier quote process.
- Be sure to update HQX with new assumptions.
- Bridge to new carrier,
500
This is how the architectural style should be listed in HQX for a condo.
What is ...Basic?
GL: Construction, Dwelling & Style of Home (Nationwide)
500
What is considered an address CORRECTION? That will not require you to start a new quote
- Address spelling corrections, e.g., St. to Street, Avenue to Ave, #216 to Unit 216, can be made without creating a new quote/re-bridging. Any changes to the house number, street name, suffix, or directional may represent a different property and require a re-quote.
500
If the Fulfillment team identifies that the premium increased by $25 due to the advanced shopper discount no longer being applied, this action will take place
Fulfillment processor will contact customer to let them know of premium increase
GL: Mortgagee Clause & Document Requests for Fulfillment Team
500
What do you recommend your customer look at to determine the plumbing Type if they are not sure?
Customers should locate the hot water tank and look at the water lines coming out of it. The supply lines
Gl: HQX Home Discovery
500
What do you code as year built if customers home has been rebuilt on a pre-existing foundation?
Code year of foundation as year built